The Cyprus Land Development Corporation (KOAG) has successfully completed the construction of the Ianthi residential complex in the Agios Nikolaos area of Larnaca. This project is part of the government’s program to provide affordable and quality housing for low-income groups. KOAG’s main goal was to create comfortable, functional, and eco-friendly apartments that combine modern design, smart layouts, and energy-efficient technologies.
Next-generation apartments
The Ianthi complex consists of modern apartments designed with a focus on comfort and energy efficiency. Every detail has been carefully thought out — from layouts to engineering systems. All apartments are equipped with photovoltaic panels for electricity generation, allowing residents to significantly reduce their utility costs. In addition, each unit is fitted with modern air-conditioning systems that provide both heating and cooling, ensuring a comfortable living environment.
Last week, the first owners received the keys to their new homes. The official handover ceremony took place in the presence of KOAG Chairwoman Elena Kousiou-Hadjidimitriou and Vice-Chairman Theseas Ioannou, marking the project’s completion and its inclusion in KOAG’s list of successful housing initiatives.
Affordable housing with modern amenities
Currently, a few two- and three-bedroom apartments are still available in the Ianthi complex. Prices start from €153,050 (excluding VAT) for two-bedroom units and from €212,900 (excluding VAT) for three-bedroom units.
The price includes the installation of individual solar panel systems and air conditioners in all rooms, making the apartments not only energy-efficient but also fully ready for occupancy. The project targets young families, professionals, and residents of Larnaca seeking affordable housing in a convenient location — close to the city center, in an area with well-developed infrastructure, schools, shops, and green spaces.
How to apply for an apartment
Those interested in purchasing an apartment in the Ianthi complex can review the terms and eligibility criteria on KOAG’s official website, where an online application form is also available. Additional information can be obtained by phone at 22 364695.
KOAG continues to develop affordable housing programs, supporting social balance and improving citizens’ quality of life. In the coming years, the organization plans to implement new projects in Limassol, Paphos, and Nicosia to meet the growing demand for housing in Cyprus.
A few years ago, KOAG launched a social housing program aimed at providing affordable homes for vulnerable and low-income groups, which continues to this day. However, not everyone qualifies for these low-cost apartments — they are primarily intended for residents with limited income.
Eligibility is based on the applicant’s annual income, which must not exceed the following limits:
- €22,000 for a single person
- €40,000 for a couple without children
- €44,000 for a family with one child
- €48,000 for a family with two children
- €58,000 for a family with three children
- €64,000 for a family with four children
- €70,000 for a family with five children
- €76,000 for a family with six children
Cyprus residents who meet these criteria can rent or purchase apartments at prices significantly lower than those currently offered on the Cypriot real estate market.
To buy an apartment under this program, applicants must first submit an application to KOAG. If the application is approved, they must make an initial payment of 20%, with the remaining 80% due after the project is completed and delivered.